President Tran Dai Quang speaks at the Vietnam Investment Promotion Conference in Tokyo on May 31 (Photo: VNA)

Tokyo (VNA) – Vietnam appreciates the discipline, sense of responsibility,
modern technology, advanced administration, and business culture of Japanese
enterprises and entrepreneurs while doing business and investment in Vietnam,
said President Tran Dai Quang.

Addressing the Vietnam Investment Promotion
Conference in Tokyo on May 31, President Quang said the Japanese business
community, including leading groups, not only act as pioneers in investment
cooperation but also help boost the bilateral relations in a more practical and
effective manner.

He stressed that the conference offered a
valuable chance for the two countries’ businesses to review their investment cooperation
and seek new affiliation opportunities, thus helping enhance and deepen the
Extensive Strategic Partnership for Peace and Prosperity in Asia.

The Vietnamese leader took the occasion to
thank Japan for its support for Vietnam’s nation building, safeguarding and
development, especially in infrastructure, human resources training and poverty
reduction.

Japan is currently the biggest ODA provider
for Vietnam with over 30 billion USD committed, which has made important
contributions to upgrading infrastructure, improving human resources,
increasing national administration capacity and accelerating poverty reduction
in Vietnam.

The works and projects using Japanese ODA have been operating effectively
across Vietnam, notably Terminal T2 of the Noi Bai International Airport, the
Lach Huyen International Seaport and the Ho Chi Minh City - Trung Luong
Expressway.

In terms of investment, Japan is always a
leading partner of Vietnam with over 3,700 projects totalling more than 50
billion USD.

People-to-people and cultural exchanges
also see strong developments. Last year, more than 300,000 Vietnamese people
visited Japan, and nearly 800,000 Japanese people traveled to Vietnam, he
noted.

President Quang said Vietnam has become a
dynamic economy with GDP of about 230 billion USD and trade of over 420 billion
USD. With a population of nearly 100 million, it has strong purchasing power
and a rapidly growing middle class. The economy is actively stepping up
integration into the world through signed free trade agreements.

Vietnam has attracted nearly 322 billion
USD in investment from 126 countries and territories in key economic fields
such as manufacturing, infrastructure development, construction, real estate,
energy, tourism and distribution. Many big international groups have had
fruitful investment and business activities here and became an important
driving force of Vietnam’s economic growth.

He highlighted the goal of turning Vietnam
into a modern industrialised nation, so Vietnam has very big demand for
developing modern and synchronous infrastructure, energy and educational
systems, which are also the fields Japan is strong in. This is a precious
chance for Japanese businesses and entrepreneurs to expand investment in
Vietnam, especially in manufacturing, agriculture, energy, IT, smart city,
services, infrastructure, finance, banking, and innovative start-ups, and take
part in the equitisation of State-owned enterprises.

He underlined the country’s consistent
policy of attaching importance to the partnership with Japan basing on the
common strategic geopolitical-economic interests and trustworthy friendship,
which have been solidified over the last 45 years.

Vietnam wants to bolster bilateral
economic, trade and investment ties in the time ahead, and it always considers
Japanese businesses and entrepreneurs a leading strategic partner in
restructuring the economy, promoting reforms and innovation, developing a
knowledge-based economy, and improving growth quality and national
competitiveness, President Quang added.

Speaking at the event, Chairman and CEO of
the Japan External Trade Organisation (JETRO) Hiroyuki Ishige recalled
cooperation outcomes between Japan and Vietnam, especially their efforts to the
signing of the Comprehensive and Progressive Agreement for Trans Pacific
Partnership (CPTPP), emphasising that the deal will be a driving force for
economic, trade and investment cooperation between the two countries in the
future.

Also at the conference, President Quang,
Japanese State Minister of Economy, Trade and Industry Yoji Muto, and JETRO Chairman
Hiroyuki Ishige witnessed the presentation of investment certificates and
memoranda of understanding on cooperation projects between the two countries’
businesses and localities.

On this occasion, Vietjet Air announced the
launch of a direct route linking Hanoi and Osaka which will be operated daily
from November 8 this year. Earlier, the budget carrier has worked with Japanese
partners to organise some flights from Vietnam to several Japanese cities like
Osaka, Narita, Sendai, Nagoya, Komatsu, Ibaraki, and Fukushima.

Deputy Director General of Vietjet Air
Nguyen Thi Thuy Binh said the Hanoi-Osaka route is the carrier’s first air
route connecting with Japan. The carrier will open more flights from Vietnam to
other big Japanese cities in the time ahead.

Before the event, President Quang had
received JETRO Chairman Hiroyuki Ishige, thanking JETRO’s support in connecting
enterprises and organising investment promotion conferences and dialogues to
solve business obstacles.

He asked JETRO to encourage Japanese firms
to invest in clean and hi-tech agriculture, support industries and mechanical
engineering in Vietnam, and help the Southeast Asian country to improve its
agricultural value chain and sell its agro-forestry-fishery products in the
Japanese market.

The conference, jointly held by the
Vietnamese Ministry of Planning and Investment and JETRO, attracted the
participation of more than 600 enterprises from both sides. -VNA